Trueblood Wealth Management LLC Purchases New Position in Tractor Supply (NASDAQ:TSCO)

Trueblood Wealth Management LLC purchased a new stake in shares of Tractor Supply (NASDAQ:TSCO) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,790 shares of the specialty retailer’s stock, valued at approximately $1,460,000. Tractor Supply makes up approximately 0.9% of Trueblood Wealth Management LLC’s holdings, making the stock its 20th biggest holding.

Other institutional investors also recently modified their holdings of the company. Pacific Center for Financial Services purchased a new stake in shares of Tractor Supply during the 1st quarter valued at approximately $26,000. Compass Wealth Management LLC purchased a new stake in shares of Tractor Supply during the 4th quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new stake in shares of Tractor Supply during the 3rd quarter valued at approximately $25,000. ST Germain D J Co. Inc. purchased a new stake in shares of Tractor Supply during the 2nd quarter valued at approximately $29,000. Finally, VisionPoint Advisory Group LLC lifted its stake in shares of Tractor Supply by 105.6% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 148 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 76 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of Tractor Supply from $220.00 to $240.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Raymond James lowered shares of Tractor Supply from a “strong-buy” rating to an “outperform” rating and upped their target price for the stock from $230.00 to $250.00 in a report on Friday, February 2nd. Morgan Stanley reaffirmed an “underweight” rating and set a $195.00 target price on shares of Tractor Supply in a report on Tuesday, January 16th. Guggenheim increased their price target on shares of Tractor Supply from $210.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Evercore ISI increased their price target on shares of Tractor Supply from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $238.91.

Tractor Supply Trading Up 0.9 %

TSCO traded up $2.38 during trading on Wednesday, hitting $260.44. 816,104 shares of the stock traded hands, compared to its average volume of 1,201,167. The firm has a market capitalization of $28.11 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 3.89 and a beta of 0.84. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.28. The firm has a 50-day moving average of $242.55 and a 200 day moving average of $219.60. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $268.02.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.06. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter in the prior year, the company posted $2.43 EPS. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. Equities research analysts anticipate that Tractor Supply will post 10.19 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.69%. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is currently 43.61%.

Insider Transactions at Tractor Supply

In other news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the sale, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the completion of the transaction, the chief executive officer now directly owns 95,192 shares in the company, valued at approximately $22,173,072.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the sale, the chief financial officer now owns 20,678 shares of the company’s stock, valued at $5,314,246. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,090 shares of company stock valued at $21,201,877. Company insiders own 0.24% of the company’s stock.

Tractor Supply Company Profile

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.